Prodi: The euro and the stability pact are not at fault

"The euro is a great instrument of stability. Without the euro we would have had European currencies jumping after another. We would have experienced disturbances like those of South America," says Romano Prodi, president of the EU commission, in an interview with the Italian paper La Stampa.

Asked whether the stability pact is partly responsible for the economic crisis, Mr Prodi answers: " No. The stability pact has been instituted just to help the governments make common rules and str...